# USD/JPY consolidates below 110.00 ahead of US critical data — Octa

> USD/JPY traded near 109.92 in Asian trade as lower US Treasury yields weighed on the dollar. The IMF cut Japan's 2021 GDP growth forecast to 2.8% and the BOJ summary of opinions flagged COVID risks to consumption.

- Date: 2021-07-29 · published 2021-07-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/46299-usd-jpy-consolidates-below-110-00-ahead-of-us-critical-data-octa
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and yen-supportive yield moves affect the currency backdrop for dollar-priced feed imports, but the pair's routine intraday moves have little direct effect on feed grain or meal prices.

## Read by commodity

- DXY: bearish ▼
- USDJPY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-29 | [AUD/USD consolidates above 0.6420 ahead of the Australian Private Sector Credit, US PCE — Octa](https://feedsoft.ai/events/34382-aud-usd-consolidates-above-0-6420-ahead-of-the-australian-private-sector-credit.md) | +1.1% | +0.9% |
| DXY | 2019-08-29 | [USD/JPY holds weaker below 106.00 handle, US GDP in focus — Octa](https://feedsoft.ai/events/57810-usd-jpy-holds-weaker-below-106-00-handle-us-gdp-in-focus-octa.md) | -0.3% | -0.1% |
| DXY | 2021-08-31 | [USD/CAD hangs near two-week lows, below 1.2600 mark ahead of Canadian GDP — Octa](https://feedsoft.ai/events/45795-usd-cad-hangs-near-two-week-lows-below-1-2600-mark-ahead-of-canadian-gdp-octa.md) | -0.2% | +0.9% |
| DXY | 2019-12-31 | [USD/JPY consolidates near three-week lows, around 108.70 - Forex Crunch](https://feedsoft.ai/events/55797-usd-jpy-consolidates-near-three-week-lows-around-108-70-forex-crunch.md) | +0.2% | +0.6% |
| DXY | 2022-07-29 | [USD/CAD sees a decisive move below 1.2800, US PCE and Canada GDP eyed — Octa](https://feedsoft.ai/events/40718-usd-cad-sees-a-decisive-move-below-1-2800-us-pce-and-canada-gdp-eyed-octa.md) | -0.2% | +0.8% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/915228/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.